Insurance Lawsuit Settled by Bank of America for $31M

Bank of America has agreed to pay $31 million to settle a class action lawsuit that claims mortgage borrowers were forced to maintain excessive flood insurance coverage.

U.S. District Court Judge Michael Simon approved the settlement in an opinion filed in late September. About 359,320 members of the national class action lawsuit will receive a portion of the $21.82 million set aside for them.

Read on.

One response to “Insurance Lawsuit Settled by Bank of America for $31M

  1. Reblogged this on odominguez62 and commented:
    Great! Little bit at a time the Banksters will reap what they have sown. And hopefully start going to prison. It’s pathetic! The average Joes are getting life sentences in prison for stealing a pizza, but oh God forbid any bankster should be carted away to prison for stealing millions of dollars.

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